Show me a CEO, or the leadership team of an existing enterprise that does not actively strategically plan its future and I will show you value lost – no matter how successful the business. Too many business leaders believe they can fully maximize their top line revenue, cash flow and EBITDA without a clearly written and communicated business plan that is continuously adjusted and updated. Year-over-year growth leads many business leaders to believe that their years of experience, feel for their market and intuition produce optimal results.

All business leaders need to recognize the difference between good and great, or growth and optimal growth. If good is what you are after, by all means untie your boat from its mooring, raise the sails and head off into the horizon on your business adventure. However, if you are serious about achieving lasting greatness and peak returns, I suggest you research your vessel of choice, hire an experienced and motivated crew, chart a course, set objectives, measure performance and trim your sails as needed, to ensure that you arrive at your destination ahead of your competition. It is really not that hard, however, it does take discipline.

Here are four simple steps to getting started on your way to maximizing enterprise value:

1. Strategically Plan Your Future – The forces of today’s rapidly changing and highly competitive free market economy demand a microscopically focused and actionable strategic plan that maximizes your enterprise’s revenue generating capabilities. Today’s economy demands that enterprises directors evolve. They must become nimble, creative leaders with a written communicable strategy for the future.
2. Write a Focused Actionable Business Plan – You strategy has been devised and your guiding mission clear…it is now time to put the puzzle together in an actionable format that clearly demonstrates and communicates a picture of the future. Your business plan is your blueprint for success.
3. Identify Market Opportunities – In order to meet demand, your strategy, mission and business plan must be keenly focused on matching a targeted customer with the proper deliverable. Identifying customers and their needs is only the beginning of the game. Product/service offerings must then be shaped to elicit instantaneous response within a given marketplace. In order to produce the needed call to action, targeting strategies and selling tactics must be crafted and implemented to enhance your presence within market segments. Differentiation and superior product positioning are the result of employing the proper marketing mix.
4. Perform a Business Enterprise Audit – Today’s enterprise leaders must perpetually survey an ever changing competitive landscape. Thus, enterprise strategy should be constructed for long-term growth and must accommodate fluid market development. Your ability to evaluate changes in market cycles, markets penetration, supply and demand, and developments in technology, demographics and government regulations is critical to the health of your enterprise.

Travis Coley is the Principal of Coley Strategic Planning, a business development consultancy aimed at speeding markets penetration and marrying capital with investment opportunities, he appreciates your feedback and can be reached via email at coleyllc@gmail.com.